If you locked a low rate on your first mortgage, a cash-out refinance would replace it at today's higher rate — an expensive way to get cash. The better move is usually a second lien that sits behind your first mortgage, so your first loan never changes.
Two ways to do it
A HELOC is a revolving line of credit you draw from as needed, usually at a variable rate — good for ongoing or flexible needs. A fixed second mortgage gives you a one-time lump sum at a fixed rate and payment — good for a known, one-time expense like debt consolidation or a renovation.
You may not even need an appraisal
At CTC Equity, you can often access up to $400,000 with no appraisal required on a HELOC or fixed second — faster and lower cost. For larger needs, we place HELOCs and fixed seconds up to $4 million, which is rarely available elsewhere.
How much can you borrow?
Most programs allow a combined loan-to-value of roughly 80–90% across your first mortgage and the new line, depending on credit and the lender. With access to 160+ lenders, we match your scenario to the program that allows the most.
The bottom line
Keep your low first-mortgage rate. Use a HELOC or fixed second to get cash or clear debt without disturbing it. If you'd like your real numbers, tell us your scenario — no full application to start.